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20121202
20121210
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.7%. the economy added 146,000 jobs, not great but good. a third of that came from the retail sector. 53,000 jobs added. professional and business services up 43,000. leisure and hospitality up. construction, though, lost 20,000 jobs. we should note that jobs numbers were revise d downward, though, for september and october. in september it was revised from 148,000 gain to 238,000. went from 138,000 to 132,000. this month, the 7.7 is a full point lower than where we were at this time last year. so what are we supposed to make of these numbers and does the november report provide us a real sense of where this recovery is right now? let's bring in the man we like to bring in every month, the chief economist for moody's analytics. mark, i have to start with this sandy impact. the labor department specifically put out a statement saying our survey response rates and the affects ee eed states. it did not affect estimates for november. do you believe that? >> i'm skeptical. i mean, new yorkers worked really hard and got it together gracefully given the circumstances. i suspect when we get all the data
really wants to avoid sending the economy over the fiscal cliff, he has done nothing to demonstrate it. the position of congressman tom cole, that the party should agree immediately to extend the bush tax rates for americans making less than $250,000 a year is the best of a bunch of bad choices for the gop. >> the g 0 op is boxed in saying it's a terrible position because by default democrats get what they want. a big bargaining chip for house republicans is they need congress to raise the debt ceiling before the end of february when analysts estimate the treasury would run out of options and hit the borrowing cap. no deal is reached. closer to the deadline and today they will argue that's bad for business. help in supporting an approach without drama or delay a. >> we can't be going through another debt crisis, debt ceiling crisis like in 2011. that has to be dealt with. >> the president of the business roundtable has said congress should raise the debt ceiling enough for the next five years to avoid uncertainty. clearly that's something that won't happen. short term spending cuts sho
on the debt. >>> all the numbers indicate that going off the fiscal cliff would hurt the u.s. economy in the short term. but could it be the best thing in the long run? going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013. unemployment would raise to 9.1% and the economy would experience what cbo said would be judged as a recession. but after that, then things start to look pretty good. the cbo says after next year by the agency's estimates economic growth will pick up. the labor market will strengthen returning output to its potential level. 5.5% by 2018. essentially if no deal is struck, the federal government would be forced to do what it's refused to do
confident? >> the second term for the president and the economy is even more important to both parties. >> what have you learned? >> i think the president has learned that he needs to stand tough with the republicans. >> that's it. >> and that's -- that is the lesson of his election. >> instead of backwards the way he did his first two years. >> exactly right. >> axelrod is coming on tomorrow and we've taken that mustache off. if it's way too early it's "morning joe." stick around right now though for chuck todd "the daily rundown." >>> take it to the bank. timothy geithner says the white house is ready to go over the cliff. republicans might stucmble, though, into having some leverage if they end up backing the tax rate plan now and kick the rest of the can to february. one top republican governor has some stinging sarcasm for his own party's position. in the middle east the situation in syria turns from serious to scary. concerns over chemical weapons has secretary clinton conferring with her russian counterpart today to try to avoid deadly developments. >>> an nbc news exclusive, af
Search Results 0 to 3 of about 4